Question:
I have heard that the Church has no formal way to revoke the ability of a priest to call down the Holy Eucharist, even if the priest is excommunicated from the Church. Is this true?
Answer:
Yes. When a man is ordained a priest it leaves an indelible mark on his soul (Catechism 1581-1584).
The ability to consecrate the Eucharist is part of the essence of being a priest and therefore always remains with him, because he is always a priest. As such, when a priest who has been excommunicated is received back into the Church, he is not re-ordained, because his ordination can never be undone.
In the Summa Theologica (III, Q82, A9) Thomas Aquinas argues that there is a difference between having the power to do something and doing that thing improperly. An excommunicated priest consecrates improperly because he is outside the Church, but he still remains a priest and therefore still has the sacramental power to consecrate.
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